Inflation 4.4 per cent in June

The year-on-year change in consumer prices,
i.e. inflation, calculated by Statistics Finland was 4.4 per cent
in June. Inflation accelerated from the 4.2 per cent in May mainly
due to risen prices of liquid fuels.

Consumer prices were pushed up most in the year
by increases in the prices of housing and food. Housing costs went
up primarily due to risen energy prices, rents and interest rates.
The cost of food went up mainly due to risen prices of dairy
products, although there were also increases in the prices of
cereal products and meat. Inflation was also pushed up by risen
prices of automotive fuels, restaurant and café services and retail
prices of alcoholic beverages from last year's June. The rise in
consumer prices was curbed most in June by fallen prices of
passenger cars, entertainment electronics and computers, as well as
eyeglasses.

From May to June consumer prices rose by 0.4 per cent, primarily
due to risen fuel prices.

Each mid-month, Statistics Finland interviewers collect around
50,000 prices on 497 commodities from approximately 2,700 outlets
for the Consumer Price Index. In addition, some 1,000 items of
price data are gathered by centralised collection.

Finland's inflation indicators, June 2008

Point figure

Year-on-year change

Month-on-month change

Consumer Price Index
2005=100

108.8

4.4%

0.4%

Cost-of-living Index
1951:10=100

1 736

Harmonised Index of Consumer Prices 2005=100

107.5

4.3%

0.3%

According to preliminary data, inflation in the EMU countries
was 4.0 per cent in June

According to the preliminary data on the
Harmonised Index of Consumer Prices, the rate of inflation in the
EMU countries was 4.0 per cent in June. In May it stood at 3.7 per
cent. The corresponding figure for Finland was 4.3 per cent in
June.

Eurostat's estimate of inflation in the EMU area is based on
preliminary data from EMU Member States and on the price
development of energy. Eurostat will publish detailed data on
Harmonised Indices of Consumer Prices for June on 16 July.